Accentuate the positive

The COVID-19 pandemic has undoubtedly thrown all manner of new problems at the student housing sector but how do we stay positive in all of this chaos?

Students looking for accommodation and those providing it both have a vested interest in there being more certainty. With all the unknowns at present, however, there is less appetite for students paying large instalments of rent upfront and less scope for guarantors. In the PBSA market, initiatives are being worked on to create incentive schemes for tenants to pay in instalments and remove the need for the provision of a sponsor. These schemes could have longer-term benefits in encouraging more people from more diverse backgrounds to embark on further education and in turn giving providers the fully let accommodation they require. 

Perhaps more importantly, we can take some comfort from the resilience of the PBSA market, underpinned by a recognition of the need to invest in education in a tricky job market. This year more than 25,000 new beds have come onto the UK market and, according to StuRents research, notwithstanding the complex socio-economic conditions that 2020 has brought about, for the first time, the number of private PBSA beds has exceeded accommodation supplied by universities.